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Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Nov 18, 2022

Mutual Fund Expert... more
Donnie Question by Donnie on Nov 18, 2022Translate
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I am 43 years old. Currently I have a Mutual Fund Corpus of Rs 39 Lakh.

My SIP Monthly Investments are as follows:

1) HDFC Midcap Opportunities Fund Direct Growth- Rs 10,000/-

2) HDFC Small Cap Direct 

Growth - Rs 5,000/-

3) L&T Emerging Business Fund Direct Growth - Rs 5,000/-

3) L&T MidCap Direct Growth - Rs 5,000/-

4) Mirae Asset Emerging Bluechip Fund Direct Growth - Rs 15,000/-

5) Mirae Asset SnP 500 ETF Fund of Fund - Rs 20,000/-

6) Tata Hybrid Equity Fund Growth - Rs 5,000/-

Total Monthly SIP is Rs 70,000/- but of late the Mirae Asset SnP 500 SIP is on hold by them. 

My target is a corpus of Rs 10 crore on my retirement which would be at 60 years. 

Kindly advice if I need to increase my SIP or change any plans. 

Ans: In 17 years Rs. 70K can create a corpus of Rs. 6 cr

Rs. 39 lakh can grow up to Rs. 3.2 cr

Total of 9 cr.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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I have invested in below mutual funds via SIP from Jan 2018 and will continue the investment for another 12-13 years. I want to build a Retirement Corpus of 4 to 5 crores.  My risk profile is Aggressive/Moderate and want a mix of Equity & Debt Funds. My current portfolio is as follows:  1) Aditya Birla Sunlife Focussed Equity Fund-Growth - 2000 per month  2) L & T Midcap Fund Cumulative - 2000 per month  3) Mirae Asset Large Cap Fund -Growth - 2000 per month  4) SBI Magnum Multicap Fund - Growth - 2000 per month  5) Sundaram Rural Consumption Fund Regular Growth - 2000 per month. 6) Axis Bluechip Fund G - Direct Plan - 2000 per month (This is only 5 Months Old SIP) Please suggest if i want to increase the current SIP amount of 12000 per month to reach the goal & if the above portfolio needs to be tweaked to better funds.  SIP of Rs. 12K can build a corpus of Rs. 60 lakhs only in 15 years …  for 4 to 5 crs , SIP amount needs to be Rs. 75000 to Rs. 100000
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Sahil Dhamija      
1) Aditya Birla Sunlife Focussed Equity Fund-Growth - 2000 per month  Equity - Focused Fund 3 switch to Axis Focused 25 Fund  - Growth
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I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

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